[2017-11-22] Bitcoin Will “Never” be Legalized in Russia, Claims Minister

[cybersofts]

Bitcoin Will “Never” be Legalized in Russia, Claims Minister

Russia’s minister for communications and mass media has opined that the country will never allow cryptocurrencies like Bitcoin to be legalized.

Speaking to reporters in Moscow on Monday, Russian minister Nikolai Nikiforov claimed the country’s laws would never consider bitcoin as a legal cryptocurrency after deeming it a “foreign project.”

According to TASS, the country’s largest news agency wholly owned by the Russian state, Nikiforov stated:

    "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation.

The Russian official went on to add that the government was open to digital cryptographic tokens through ICOs and bitcoin’s underlying technology, the blockchain. “However, I think that it is quite possible to use blockchain technology and the use of various digital tokens,” he added.


In late 2015, Nikiforov publicly spoke toward the “necessity to explore the use of blockchain technology in the best interests of the public.” The Russian official claimed the innovation can help both the national economy and “relations between the state and the public.”

Nikiforov’s aversion to the world’s first and most prominent cryptocurrency hasn’t stopped the official from revealing the state’s intent to issue its own cryptocurrency, dubbed the ‘cryptoruble’. The state-issued cryptocurrency will be developed and issued “quickly”, Nikiforov said, following a meeting between Moscow’s elite and Russian president Vladimir Putin last month.

While Russian authorities have long adopted a hostile stance toward decentralized cryptocurrencies like bitcoin, ICOs and blockchain technology have seen far less scrutiny. In late October, Putin ordered ministries to develop a regulatory framework for initial coin offerings (ICOs) and cryptocurrency mining operations in the country. Last week, a senior Russian central bank official threw his support for ICOs, underlining their “huge potential” for financing startups in the country.


Source: https://www.cryptocoinsnews.com/bitcoin-will-never-considered-legalization-russia-claims-minister/

[oyoW9Pie8oh]

i see this is good news they say "Bitcoin Will “Never” be Legalized" not we will ban bitcoin or stop exchange

[Egoitss]

Russia is like young girl. One day she wants BTC other don't. Meanwhile they are making farms all around.

[marckenigsberg]

Russia clearly believes in crypto.
I think the question is whether they can get their own state controlled coin to succeed.
Time will tell.
Talk from Russia doesn't meant a lot.
Action will determine

[endlasuresh]

They are saying it's a foreign project, but they have so many Russian ICO's and playing the people. I am hearing this is another type of news as they can't claim their own words. This is same thing as china did and they are looking to make some money when the prices are up and kick Bitcoin when the price is down.

[coolcountry]

They will continue to claim it will never be legalized until they figure out how it can be regulated in a fashion which is the most profitable for the government. Then they will legalize it. As people become more and more aware of bitcoin and take their money off the grid, governments will see that there is no option but to legalize & regulate it.

[btcton]

They will continue to claim it will never be legalized until they figure out how it can be regulated in a fashion which is the most profitable for the government. Then they will legalize it. As people become more and more aware of bitcoin and take their money off the grid, governments will see that there is no option but to legalize & regulate it.

Eh, I would not be so sure about that. Every since they announced that they were coming out with their "crypto-ruble," it definitely became a possibility that the use of alternatives to their cryptocurrency such as Bitcoin could be outlawed nationally or prohibited for general use. Now, do note that this is not what the Russian officials are saying. They are only saying that they will not legally recognize it themselves, but they are also not banning it either. Their strategy here is probably to have something back up into-- in this case Bitcoin-- in case that their crypto-ruble does not take off. This way they could still embrace Bitcoin or other cryptocurrencies and would not be left out of the loop if their plans go awry.

[Yaunfitda]

I'm not surprised at all to see this announcement of a Russia Minister. Its been a a pain seeing Russia make back and forth statement and changing the tone one after the other. And this is expected because how can they legalized something that is beyond their control?

I know they love Ethereum, but the mode suddenly change a little when they decided to have their own cryptocurrency. The only consistent word I'm seeing with them is "Blockchain". I think this is where they are really interested in. They want to take full advantage of this underlying technology that's why they tend to appear to be a bitcoin friendly nation, but behind they are not really interested, but they have an eye on the technology behind it.

[greeklogos]

Russia is like young girl. One day she wants BTC other don't. Meanwhile they are making farms all around.

They never wanted BTC as you say. From the most beginning it was clear that they were interested only in Blockchain technology and creation of their national crypto, I suppose which is going to be made on the base of ETH. Russia from the most beginning of Putin's presidentship wanted to resurrect the national product and brand which was just ruined after the USSR fall and hard 90-s years for the country. For now they only delay with realizing of this project. I remember how they promised to finish with that on 2017 spring, then autumn and now February of 2018. Well, let's see

[bambazamba]

That'd be another bad decision by Russia then .
I have seen that most of the ICO's are started by Russians and if they ban the use of crypto then they might get a heavy loss in their economy and many people could loose their main stream jobs for that reason . Russia is considered one of the biggest countries in context to latest technology i did not saw this coming fromm Russia . They are taking such big step and the reason might also come out to be the generation of Russia's own crypto currency just like China .         

[saycryptohello]

Russia's government have no common idea what to do with cryptocurrencies. Each one "minister" says own opinion.

[R519sg]

This Minister of nothing. He already has everything. Real estate in Europe or America, major account offshore. He doesn't think about the future of the country. Here because of such corruption in Russia is not a technological future in the near future.

[Lancusters]

This Minister of nothing. He already has everything. Real estate in Europe or America, major account offshore. He doesn't think about the future of the country. Here because of such corruption in Russia is not a technological future in the near future.

Russian trouble is that they have all the government is. It will not be this Minister will be the other. In this case, nothing will change. They can have a lot of money and villas abroad only at the expense of ordinary citizens of Russia. There are no successful businessmen. All their constantly on corruption. Bitcoin helps people not to depend on policies and actions of the government. They will not allow it never.

[R519sg]

This Minister of nothing. He already has everything. Real estate in Europe or America, major account offshore. He doesn't think about the future of the country. Here because of such corruption in Russia is not a technological future in the near future.

Russian trouble is that they have all the government is. It will not be this Minister will be the other. In this case, nothing will change. They can have a lot of money and villas abroad only at the expense of ordinary citizens of Russia. There are no successful businessmen. All their constantly on corruption. Bitcoin helps people not to depend on policies and actions of the government. They will not allow it never.

In fact, it's a big political ploy. More than once it was. Some sort of Minister is nonsense. And at the conference, Putin asked: "is it true that they want to ban bitcoin?" Putin will answer it incorrectly, the technology needs to evolve and he is against prohibitions, and the like. People watch TV and think that Putin has done and the Minister is a Fool. Vote for Putin and everything again on the new corruption and theft.